Segall Bryant & Hamill LLC Acquires 89,151 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Segall Bryant & Hamill LLC boosted its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW) by 95.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 183,023 shares of the network technology company’s stock after acquiring an additional 89,151 shares during the quarter. Segall Bryant & Hamill LLC’s holdings in Palo Alto Networks were worth $33,303,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Dudley Capital Management LLC raised its holdings in shares of Palo Alto Networks by 100.0% in the 4th quarter. Dudley Capital Management LLC now owns 1,330 shares of the network technology company’s stock worth $242,000 after buying an additional 665 shares in the last quarter. Zevenbergen Capital Investments LLC raised its stake in Palo Alto Networks by 91.3% during the fourth quarter. Zevenbergen Capital Investments LLC now owns 500,515 shares of the network technology company’s stock worth $91,074,000 after acquiring an additional 238,872 shares in the last quarter. Riposte Capital LLC bought a new position in shares of Palo Alto Networks during the fourth quarter valued at $11,827,000. Prudential Financial Inc. boosted its stake in shares of Palo Alto Networks by 69.4% in the 4th quarter. Prudential Financial Inc. now owns 338,695 shares of the network technology company’s stock valued at $61,629,000 after purchasing an additional 138,790 shares in the last quarter. Finally, Interchange Capital Partners LLC boosted its stake in shares of Palo Alto Networks by 96.6% in the 4th quarter. Interchange Capital Partners LLC now owns 3,998 shares of the network technology company’s stock valued at $727,000 after purchasing an additional 1,964 shares in the last quarter. Institutional investors and hedge funds own 79.82% of the company’s stock.

Insider Activity at Palo Alto Networks

In other Palo Alto Networks news, CEO Nikesh Arora sold 235,492 shares of Palo Alto Networks stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $183.32, for a total value of $43,170,393.44. Following the sale, the chief executive officer now directly owns 1,086,404 shares in the company, valued at approximately $199,159,581.28. The trade was a 17.81 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Lee Klarich sold 99,707 shares of the business’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $182.45, for a total transaction of $18,191,542.15. Following the sale, the executive vice president now directly owns 358,197 shares in the company, valued at $65,353,042.65. This trade represents a 21.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,122,864 shares of company stock valued at $204,315,811. 2.50% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts recently issued reports on PANW shares. Guggenheim downgraded shares of Palo Alto Networks from a “neutral” rating to a “sell” rating and set a $130.00 price target for the company. in a report on Monday, January 6th. UBS Group boosted their target price on Palo Alto Networks from $190.00 to $200.00 and gave the stock a “neutral” rating in a report on Friday, February 14th. Morgan Stanley assumed coverage on Palo Alto Networks in a report on Tuesday, March 18th. They set an “overweight” rating for the company. Evercore ISI reduced their price objective on Palo Alto Networks from $455.00 to $230.00 and set an “outperform” rating on the stock in a research note on Tuesday, December 31st. Finally, KeyCorp raised their target price on Palo Alto Networks from $217.00 to $240.00 and gave the company an “overweight” rating in a research note on Tuesday, February 11th. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating, twenty-eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $205.06.

Palo Alto Networks Stock Up 1.4 %

Shares of PANW stock opened at $184.79 on Tuesday. Palo Alto Networks, Inc. has a 12-month low of $132.50 and a 12-month high of $208.39. The firm has a fifty day moving average of $186.92 and a 200-day moving average of $185.23. The company has a market capitalization of $122.35 billion, a price-to-earnings ratio of 104.11, a P/E/G ratio of 5.64 and a beta of 1.04.

Palo Alto Networks (NASDAQ:PANW) last released its earnings results on Thursday, February 13th. The network technology company reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.75 by $0.06. The firm had revenue of $2.26 billion during the quarter, compared to analysts’ expectations of $2.24 billion. Palo Alto Networks had a return on equity of 21.93% and a net margin of 14.64%. On average, equities analysts expect that Palo Alto Networks, Inc. will post 1.76 EPS for the current year.

Palo Alto Networks Company Profile

Palo Alto Networks, Inc provides cybersecurity solutions worldwide. The company offers firewall appliances and software; and Panorama, a security management solution for the global control of network security platform as a virtual or a physical appliance. It also provides subscription services covering the areas of threat prevention, malware and persistent threat, URL filtering, laptop and mobile device protection, DNS security, Internet of Things security, SaaS security API, and SaaS security inline, as well as threat intelligence, and data loss prevention.